UBS Group AG Lowers Stake in Watts Water Technologies, Inc. $WTS

UBS Group AG reduced its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 51.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 97,774 shares of the technology company’s stock after selling 104,476 shares during the period. UBS Group AG’s holdings in Watts Water Technologies were worth $26,988,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WTS. Cartenna Capital LP purchased a new position in Watts Water Technologies during the 3rd quarter worth $47,478,000. AQR Capital Management LLC grew its position in Watts Water Technologies by 148.3% during the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after purchasing an additional 165,837 shares during the last quarter. Invesco Ltd. grew its position in Watts Water Technologies by 34.4% during the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after purchasing an additional 120,090 shares during the last quarter. M&T Bank Corp grew its position in Watts Water Technologies by 2,609.4% during the 4th quarter. M&T Bank Corp now owns 81,743 shares of the technology company’s stock worth $22,563,000 after purchasing an additional 78,726 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Watts Water Technologies by 156.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 86,681 shares of the technology company’s stock worth $21,314,000 after purchasing an additional 52,847 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Up 0.0%

Shares of NYSE WTS opened at $296.98 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 52 week low of $230.47 and a 52 week high of $345.17. The firm has a 50-day moving average price of $301.64 and a 200 day moving average price of $292.71. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.20.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter last year, the business earned $2.37 earnings per share. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities research analysts anticipate that Watts Water Technologies, Inc. will post 11.66 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.63 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.8%. Watts Water Technologies’s dividend payout ratio (DPR) is 19.03%.

Wall Street Analysts Forecast Growth

WTS has been the topic of several research reports. Barclays raised their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. HSBC initiated coverage on shares of Watts Water Technologies in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 target price on shares of Watts Water Technologies in a research note on Friday. Finally, Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $330.11.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 332 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the sale, the director owned 2,212 shares in the company, valued at $667,360.40. This trade represents a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 372 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $292.13, for a total transaction of $108,672.36. Following the completion of the sale, the insider owned 11,220 shares of the company’s stock, valued at $3,277,698.60. This trade represents a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,674 shares of company stock valued at $9,669,838. 1.00% of the stock is owned by company insiders.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.